Press release from Business Wire India
Source: Ramco Systems Limited
Tuesday, May 31, 2011 10:19 AM IST (04:49 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
--------------------------------------------------
Ramco Posts Global Income of USD 47.41 m for FY 2010-11. Quarterly Revenue Stood at USD 12.16 m, Grows 34.4% YoY
Chennai, Tamil Nadu, India, Tuesday, May 31, 2011 -- (Business Wire India) -- Ramco Systems Limited (BSE - 532370, NSE - RAMCOSYS, MSE - RSST); a leading software company focused on consulting, products and managed services, today announced, the results for the fourth quarter of FY 2010-11.
For the quarter ended March 31, 2011 (Q4:10-11), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia and South Africa stood at USD 13.12 m (Rs 58.94 cr). The profit for the quarter stood at USD 0.22 m (Rs 0.98 cr) as against last year corresponding quarter profit of USD 0.06 m (Rs 0.26 cr).
For the year ended March 31, 2011 (FY: 2010-11), global income of Ramco Systems Limited grew at 27.82% to USD 47.41 m (Rs 214.21 cr). The profit for the year stood at USD 0.51 m (Rs 2.31 cr) as against last year corresponding year profit of USD 0.40 m (Rs 1.88 cr).
Highlights - FY 2010-11:
- FY revenue grows 27.21% YoY
- Adds 176 new customers during the year
- Establishes itself as a prominent player in the public cloud ERP space with Ramco OnDemand ERP
- Aviation business bounces back with significant wins during the year
- Sees increasing demand for Analytics suite comprising of Banking and Enterprise Analytics delivered both as public and private cloud
Financial & Business highlights - Q4 2010-11:
- Q4 revenue grows 34.4% YoY
- India operations (including Middle East and Africa) contributed 60%, followed by US with 22%, depicting stronger domestic scenario.
- Newer markets like Middle East and Africa continued to show significant growth.
Awards:
- Ramco Systems won the prestigious award for 'Operational Excellence and Quality' at the BPO Excellence Awards 2010-2011, held at the Taj Lands End, Mumbai. Ramco won the award for exhibiting successful implementation of its acclaimed IP3 Framework, in bringing operational excellence and quality to customers.
Product launch:
- Ramco launched its Software as a Service (SaaS) Enterprise Resource Planning (ERP) offering for the Aviation, Aerospace and Defense industry targeting the US market.
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - "The year 2010-11 has been a very important one for us as we embarked on a drive to enhance our brand image through marketing initiatives on print, outdoor and online media. This coupled with a strong cloud offering has helped us position Ramco as a leading player in the cloud ERP space. In addition to gaining significant traction from the market, we have also witnessed the brand get better market recognition. As a company, we are now focused on consolidating our efforts into high growth, high potential products and markets. In FY 2011-12, the emphasis is on enhancing the competitiveness of our overall operations through Verticalization. This will ensure that each unit is a self-contained entity having the domain expertise to handle the complete solution end-to-end. As we step into the next phase of growth, powered with strong offerings in both private and public Cloud, Aviation and Analytics, we look forward to good growth in the business in the year ahead."
About Ramco Systems:
Ramco Systems, a part of the USD 875 million Ramco Group, is a leading software company focused on consulting, product and managed services business. Headquartered in Chennai, Ramco Systems was started as an R&D division of Ramco Industries Limited in 1992, and later established as an independent company in 1999. The company focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments. Globally, Ramco has over 125,000 users from 800+ customer organizations since inception. The company currently has 15 offices spread across India, USA, Canada, Europe, Middle East, South Africa and APAC and employs over 1,500 employees.
Ramco's key differentiator is its innovative approach to develop products through its revolutionary enterprise application assembly and delivery platform - Ramco VirtualWorksT. Ramco Systems has seven major product suites - Ramco Enterprise Suite, Ramco Enterprise Asset Management Suite, Ramco Aviation, Ramco OnDemand ERP (ERP on Cloud), Ramco Enterprise Information Management Suite, Ramco Advanced Process Control, and Ramco Mine Management. Strong domain knowledge coupled with proven implementation expertise enables Ramco to provide specialized solutions in verticals such as Manufacturing, Real Estate & Construction, Energy & Utilities, Logistics, Service, BFSI, Aviation, Government and Defense.
Ramco Systems has been assessed for ISO 9001:2008 and ISO 27001:2005 information security standards. Ramco's BPO unit is SAS 70 Type II certified.
"Ramco Systems Limited ("the Company") is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its equity shares and has filed a draft letter of offer ("DLOF") with the Securities and Exchange Board of India ("SEBI"). The DLOF is available on the website of SEBI at www.sebi.gov.in , on the website of the lead manager at www.centrum.co.in and of the Company at www.ramco.com . Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the aforementioned DLOF. The distribution of the DLOF to persons in certain jurisdictions outside India may be restricted by legal requirements prevailing in those jurisdictions. Persons into whose possession the DLOF may come will require them to inform themselves about and observe such restrictions. The equity shares proposed to be issued have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India (including but not limited to any securities laws in the United States) and may not be offered or sold, and persons in any such jurisdiction shall not participate in the proposed issue except in compliance with the applicable laws of such jurisdiction".
For more information, please visit www.ramco.com
Follow Ramco on Twitter @ramcosystems /read latest news & updates on http://www.ramcoblog.com/
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
To view the financial results, please click on the links given below:
Unaudited Results
Unaudited Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Table_1(12).pdf
Table_1(12).pdf
http://www.BusinessWireIndia.com/attachments/Table_2(2).pdf
Table_2(2).pdf
CONTACT DETAILS
Vinitha Ramani , Ramco Systems Limited, +91 9840368048, vinitharamani@rsi.ramco.com
Twinkle Xavier, 20:20 MEDIA, +91 9884480115, twinkle@2020india.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
No comments:
Post a Comment